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German Growth Declines

The International Monetary Fund (IMF) will cut its estimates for German economic growth in 2014 and 2015 to around 1.5% for each year due to the crises in Ukraine and the Mideast, weekly German magazine Der Spiegel said on Sunday. The forecasts are due to be published on Tuesday. In July the IMF predicted Europe’s largest economy would expand by 1.9% this year and by 1.7% next year.